Real estate players see opportunity in the draft e-commerce policy
More than online marketplaces and digital commerce, the draft e-commerce policy issued last week might help the real estate sector. With the insistence on data centres to be onshore, entities in real estate believe there is going to be a rise in demand for specialised Grade-A commercial spaces to set these up. Currently, data centres in India occupy around 12 million sq ft in space, growing at a compounded annual rate of 20 per cent.
Sector experts estimate India will become the second-largest data centre market in Asia-Pacific by 2020. According to a Gartner India study, the market doubled to $4.5 billion in 2018 from $2.2 billion in 2016, as more foreign companies sought to store data within the country.